5paisa Research Team Last Updated: 11th December 2024 - 01:22 pm
5paisa Research Team Last Updated: 11th December 2024 - 01:22 pm
Mobikwik's initial public offering (IPO) has received strong investor interest on its opening day. The IPO witnessed varied participation across categories, with subscription rates reaching 2.59 times by 12:05 PM on December 11, 2024.
Mobikwik IPO, which opened on December 11, 2024, has seen notable participation across categories. The Retail Investors segment has demonstrated exceptional interest, reaching 10.89 times subscription, while Non-Institutional Investors showed good participation at 2.25 times. The QIB portion is currently at 0.00 times subscription.
This response comes amid positive sentiment in the Indian fintech sector, particularly towards companies with established digital payment solutions.
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| Date | QIB | NII | Retail | Total |
| Day 1 (Dec 11)* | 0.00 | 2.25 | 10.89 | 2.59 |
*As of 12:05 PM
Here are the subscription details for Mobikwik IPO as of Day 1 (11th December 2024, 12:05 PM):
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) | Total Application |
| Anchor Investors | 1.00 | 92,25,807 | 92,25,807 | 257.400 | - |
| Qualified Institutions | 0.00 | 61,50,538 | 4,452 | 0.124 | - |
| Non-Institutional Buyers | 2.25 | 30,75,269 | 69,08,815 | 192.756 | 8,884 |
| - bNII (>₹10L) | 1.38 | 20,50,179 | 28,35,924 | 79.122 | 2,763 |
| - sNII (<₹10L) | 3.97 | 10,25,089 | 40,72,891 | 113.634 | 1,381 |
| Retail Investors | 10.89 | 20,50,179 | 2,23,19,678 | 622.719 | 38,682 |
| Total | 2.59 | 1,12,75,986 | 2,92,32,945 | 815.599 | 3,41,728 |
Incorporated in March 2008, One Mobikwik Systems Limited has established itself as a leading fintech company specializing in digital payments and financial services. The company has built a strong reputation through its comprehensive range of payment solutions and innovative financial products, serving over 161.03 million registered users and 4.26 million merchants as of June 2024.
Operating across India, the company's portfolio encompasses various services including digital wallets, payment gateway solutions, buy-now-pay-later services, and merchant solutions. Their flagship product MobiKwik ZIP contributes significantly to their revenue, along with other innovative offerings like QR payments, soundbox devices, and EDC machines.
Their competitive strengths lie in their efficient operational management of loan products, strong brand trust, technology-first approach to business, and comprehensive consumer experience. With 226 permanent employees in technology functions, the company has demonstrated strong financial performance, achieving 59% revenue growth between FY2023 and FY2024.